“Unemployment at 4-year high”
That’s the headline for the latest “good news” regarding the American economy.
July marked the seventh consecutive month employers cut jobs, with a net loss of 51,000 jobs in the month, and the national unemployment rate hit a four-year high, according to a Labor Department report released today. For July, the national unemployment rate rose to 5.7% from a 5.5% reading in June. with July’s unemployment rate being the highest since March 2004.
If you’re keeping count, July’s total of 51,000 lost jobs brings the total for 2008 to 463,000. That’s nearly 500,000 folks that are out of work thanks to the economic savvy of George W. Bush and his band of geniuses in the White House.
Heckuva job, Bushie!